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Poland PMI February 2021

Poland: Manufacturing conditions improve at strongest pace in over two years in February

The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 51.9 in January to 53.4 in February, marking the third straight month of improvement and the best print since June 2018. As a result, the index moved further above the 50-threshold, signaling an improvement in business conditions compared to the previous month.

February’s increase was largely driven by faster growth of new orders and a rebound in production. New orders rose at the quickest clip since July 2020, mainly on the back of upbeat demand from external markets. Moreover, output increased for the first time in four months and employment increased at the fastest rate in nearly three years. On the price front, input cost inflation jumped to its highest in 10 years due to global raw material shortages, logistical problems and currency weakness. As a result, firms passed on these higher costs to customers, with output charges increasing at the quickest pace in over 14 years. Lastly, business sentiment remained upbeat about the outlook for the coming twelve months, as firms expect a considerate rise in sales as the economy recovers from the pandemic.

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